Endeavor Entrepreneurs Martin Schrimpff and José Fernando Veléz were recently honored by Veracode when their company PagosOnline won one of three Secure Development Awards. The following is a report on the story, while the official press release may be found here and more information about the award may be found here.

Last month, Veracode, a leading American company in cloud-based application security testing, recognized PagosOnline as one of the most secure software developers of 2012. PagosOnline, led by Endeavor Colombia Entrepreneurs Martin Schrimpff and José Fernando Veléz, is the leading payment service provider in Latin America, which specializes in integrating local forms of payments into their online payment platform.

This is the inaugural year of Veracode’s Secure Development Award, which recognizes Veracode’s small and mid-sized customers who have developed the most secure software applications. The rigorous selection process began with 18,000 applications, which were evaluated based on their flaw density, or the number of flaws present per megabyte of code. PagosOnline, along with On-Line Strategies from Dallas, Texas and SecureKey Technologies from Toronto, Canada stood out among other candidates as the most secure applications scanned by Veracode.